Marijuana Price Rises 2% to $1,568 a Pound
For the week ended Friday, January 13, 2017, the spot price index for a pound of cannabis increased by 2.3% from $1,532 in the prior week to $1,568. According to the analysts at Cannabis Benchmarks, the simple average price for a gram decreased from $3.88 to $3.82.
The futures price for the near month (February) remained unchanged at $1,625. For the month of March, the forward price also remained unchanged at $1,650. The six-month forward price (July) was unchanged as well, at $1,650 a pound.
About two-thirds of the past week’s transactions occurred in a range of $1,205 to $2,259 per pound.
This week the analysts commented on testimony from Alabama Senator Jeff Sessions, President-elect Donald Trump’s nominee to be the next U.S. Attorney General:
Overall, participants in state-legal cannabis markets and the public at large did not gain from Sessions’ testimony any meaningful insight into the future of cannabis enforcement under the impending Trump administration. Although, the fact remains that it would take significant resources and a defiance of the popular will to dismantle legal cannabis programs. Those hurdles may be sufficient to stop Sessions from carrying out anti-cannabis policies that might jive with his own personal inclinations. However, uncertainty reigns currently, as it does in most areas, with nothing apart from vague pronouncements on the subject of legal cannabis coming from Trump.
Indoor flower prices ranged from $893 to $3,400 per pound, and the median price was $1,760. Greenhouse flower prices ranged from $900 to $2,400 per pound, while the median price was $1,638. Outdoor flower prices ranged from $700 to $1,950 per pound; the median price was $1,200.
For a wide-angle look at the cannabis industry, see our report on the largest companies in the marijuana business.
Our price check at MJCharts indicates prices range from $25.00 a gram to a low of $4.00 in the all-cities index. The all-cities index price is $11.26 per gram, down $0.96 compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $12.20, ranging from a high of $15.00 a gram to a low of $8.00. In California the average price is $14.47 per gram, ranging from $27.19 down to $5.00 per gram, while in Michigan the average price is $15.00 per gram in a range of $25.00 to $5.00. In Oregon the average is $11.19 per gram in a range of $25.00 to $4.00, and in Washington the average is $10.61 per gram, ranging from a high of $17.00 to a low of $4.00.